I am an Engineer by education from an institute of repute with 25 + years of experience in technology product development. Have significant years of work experience in Signal processing and pattern matching. I am No exponent of English language so kindly go easy on my literary skills - specially grammar and spellings.
Sometime in 2002-3 when IT bubble had busted ,I happened to read an article about how so many indicators were pointing to the impending bust but people ignored it. That got me interested in technical indicators. I researched a lot them and soon found out what you all already know. Some worked better in certain market condition while others worked better in other. There was no magic wand.
Always interested in algorithms, I coded several of them to notice inherent complexities of predicting price. From breakout/breakdown to Moving averages to Elliot wave to more recent open interest, volatility and so on. Those must have been simple times when Japanese rice traders made money by simply locating a 'Doji '. Now , so many of us got 'hammered' or 'dojified' to our 'grave-stone' if we followed candle stick signals carelessly.
Time frames seemed to be one very important aspect to me. As in the sea the bigger wave always manages to change the direction of smaller wave , in markets the bigger time frame event will interrupt the course of smaller time frame trend without any excuse. So daily traders should be wary of weekly events specially on Fridays and Thursdays. Similarly weekly crowed should look over the shoulder towards month end.
The other cardinal principal which seemed to hold true in all the time frames was the Dow theory of Higher Tops and Higher Bottoms or Lower Tops and Lower Bottoms these days.
So taking these two as the main principles and all other techniques as mere supporting tools I had embarked on building my system from scratch absolutely single handedly. Only input was the downloads from NSE data. Rest all thousands of lines of java code and database is my lone effort.
To cut the chase , let me quickly finish that over the last several years first part time and then almost full time for almost last 3-4 years I have managed to put to gather a Trading System of some sorts. Its work in progress in some areas but I guess it gives decent performance in daily time frames. I have had no access to any professional trading station to compare. I leave that to feedback from janta which will spur me to betterment.
Why am I not making money trading and writing all this stuff here , if it all seemed to be working all right and decent. Good question to ask. Well, to make money from market you need money first. After years of underpayment no payment and bad trades my resources have dwindled to critical level. I do trade sometime but that takes focus away from my work.
So my friends! I come to you to improve and hopefully some of you would make money and help me make some too. You can advise me on revenue model.
All the stocks of NSE are analyzed for various patterns. I would give some of them in next few days -
Usual disclosure applies - I am no certified investment/trading professional. Individual to seek professional advice before doing trades. These are for information only
:thumb:
Here are my Day 1 Trades -
Buying Price may not be near yesterday closing price. We may expect it to dip before it goes up again. Similarly A fall may happen after some rise.
Keep stop loss as mentioned , don't carry the trade to next day unless you are sure. I would cut my trades if I am less than 2 % in profit or in any loss at the end of the day. Trade in the direction of NIFTY whenever possible.
stock Buy range stop Loss
Reliance 841.1 - 844 831.9
Sell Stop Loss
aban 294.8 - 295.6 298
AXISBANK 1403- 1404 1428
DishTv 68-69 70
Sometime in 2002-3 when IT bubble had busted ,I happened to read an article about how so many indicators were pointing to the impending bust but people ignored it. That got me interested in technical indicators. I researched a lot them and soon found out what you all already know. Some worked better in certain market condition while others worked better in other. There was no magic wand.
Always interested in algorithms, I coded several of them to notice inherent complexities of predicting price. From breakout/breakdown to Moving averages to Elliot wave to more recent open interest, volatility and so on. Those must have been simple times when Japanese rice traders made money by simply locating a 'Doji '. Now , so many of us got 'hammered' or 'dojified' to our 'grave-stone' if we followed candle stick signals carelessly.
Time frames seemed to be one very important aspect to me. As in the sea the bigger wave always manages to change the direction of smaller wave , in markets the bigger time frame event will interrupt the course of smaller time frame trend without any excuse. So daily traders should be wary of weekly events specially on Fridays and Thursdays. Similarly weekly crowed should look over the shoulder towards month end.
The other cardinal principal which seemed to hold true in all the time frames was the Dow theory of Higher Tops and Higher Bottoms or Lower Tops and Lower Bottoms these days.
So taking these two as the main principles and all other techniques as mere supporting tools I had embarked on building my system from scratch absolutely single handedly. Only input was the downloads from NSE data. Rest all thousands of lines of java code and database is my lone effort.
To cut the chase , let me quickly finish that over the last several years first part time and then almost full time for almost last 3-4 years I have managed to put to gather a Trading System of some sorts. Its work in progress in some areas but I guess it gives decent performance in daily time frames. I have had no access to any professional trading station to compare. I leave that to feedback from janta which will spur me to betterment.
Why am I not making money trading and writing all this stuff here , if it all seemed to be working all right and decent. Good question to ask. Well, to make money from market you need money first. After years of underpayment no payment and bad trades my resources have dwindled to critical level. I do trade sometime but that takes focus away from my work.
So my friends! I come to you to improve and hopefully some of you would make money and help me make some too. You can advise me on revenue model.
All the stocks of NSE are analyzed for various patterns. I would give some of them in next few days -
Usual disclosure applies - I am no certified investment/trading professional. Individual to seek professional advice before doing trades. These are for information only
:thumb:
Here are my Day 1 Trades -
Buying Price may not be near yesterday closing price. We may expect it to dip before it goes up again. Similarly A fall may happen after some rise.
Keep stop loss as mentioned , don't carry the trade to next day unless you are sure. I would cut my trades if I am less than 2 % in profit or in any loss at the end of the day. Trade in the direction of NIFTY whenever possible.
stock Buy range stop Loss
Reliance 841.1 - 844 831.9
Sell Stop Loss
aban 294.8 - 295.6 298
AXISBANK 1403- 1404 1428
DishTv 68-69 70
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